Wells Fargo Files 424B2 for New Securities Offering

TL;DR

**Wells Fargo is issuing new securities, watch for details on what and why.**

AI Summary

Wells Fargo & Company (CIK: 0000072971) filed a 424B2 prospectus on March 23, 2026, indicating a new offering of securities under their existing shelf registration (File No.: 333-292881). This filing is a preliminary pricing supplement, meaning they are setting the terms for a specific security offering. For investors, this matters because it signals Wells Fargo is raising capital, which could be for various purposes like funding operations, expanding, or refinancing debt, potentially impacting future earnings or dividend policies.

Why It Matters

This filing signals Wells Fargo is preparing to issue new securities, which could dilute existing shares or increase their debt, impacting shareholder value.

Risk Assessment

Risk Level: medium — The filing itself is procedural, but the underlying offering could introduce new risks depending on the type and terms of the securities.

Analyst Insight

Investors should monitor subsequent filings (like a final prospectus) to understand the specific terms of the securities being offered, such as interest rates, maturity dates, or potential dilution, before making any investment decisions.

Key Numbers

• 2026-03-23 — Filing Date (Date the 424B2 prospectus was filed by Wells Fargo)
• 333-292881 — File No. (The registration statement under which this offering is being made)
• 0000072971 — CIK (Central Index Key for Wells Fargo & Company/MN)

Key Players & Entities

• WELLS FARGO & COMPANY/MN (company) — the filer of the 424B2 prospectus
• 0000072971 (company) — CIK of Wells Fargo & Company/MN
• 333-292881 (dollar_amount) — File Number for the shelf registration statement
• 2026-03-23 (dollar_amount) — Filing Date of the 424B2

Forward-Looking Statements

• Wells Fargo will announce the specific terms of the securities offering soon. (Wells Fargo & Company/MN) — high confidence, target: 2026-04-23

FAQ

Key Financial Figures

• $1,000 — s Fargo ") Original Offering Price: $1,000 per note; provided that the original of
• $982.50 — unt will vary but will not be less than $982.50 per note and will not be more than $1,0
• $1,000.00 — Proceeds to Wells Fargo Per Note $1,000.00 $17.50 $982.50 Total (1) The
• $17.50 — to Wells Fargo Per Note $1,000.00 $17.50 $982.50 Total (1) The original

Filing Documents

• r8753wfc_424b2-10626.htm (424B2) — 99KB
• image1.gif (GRAPHIC) — 7KB
• 0001839882-26-016512.txt ( ) — 111KB

From the Filing

PRICING SUPPLEMENT NO. 24 The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement and the accompanying prospectus supplement and prospectus are not an offer to sell these notes and we are not soliciting an offer to buy these notes in any jurisdiction where the offer or sale is not permitted. PRICING SUPPLEMENT No. 24 dated March , 2026 (To Prospectus Supplement dated February 13, 2026 and Prospectus dated February 13, 2026) Wells Fargo & Company Medium-Term Notes, Series AA $ Fixed Rate Callable Notes Notes due April 2, 2033 Filed Pursuant to Rule 424(b)(2) Registration No. 333-292881 The notes have a term of 7 years, subject to our right to redeem the notes on the optional redemption dates beginning 1.5 years after issuance. The notes pay interest semi-annually at a fixed per annum rate, as set forth below. All payments on the notes are subject to the credit risk of Wells Fargo & Company. If Wells Fargo & Company defaults on its obligations, you could lose some or all of your investment. The notes will not be listed on any exchange and are designed to be held to maturity. Terms of the Notes Issuer: Wells Fargo & Company (" Wells Fargo ") Original Offering Price: $1,000 per note; provided that the original offering price for an eligible institutional investor and an investor purchasing the notes in a fee-based advisory account will vary but will not be less than $982.50 per note and will not be more than $1,000 per note. Because the original offering price for eligible institutional investors and investors purchasing the notes in a fee-based advisory account will vary as described in footnote (1) below, the price such investors pay for the notes may be higher than the prices paid by other eligible institutional investors or investors in fee-based advisory accounts based on then-current market conditions and the negotiated price determined at the time of each sale. Principal Amount: $1,000 per note. References in this pricing supplement to a " note " are to a note with a principal amount of $1,000. Pricing Date: March 31, 2026.* Issue Date: April 2, 2026.* April 2, 2033.* The notes are subject to redemption by Wells Fargo prior to the stated maturity date as set forth below under "Optional Redemption." The notes are not subject to repayment at the option of any holder of the notes prior to the stated maturity date. Payment at Maturity: Unless redeemed prior to stated maturity by Wells Fargo, a holder will be entitled to receive on the stated maturity date a cash payment in U.S. dollars equal to $1,000 per note, plus any accrued and unpaid interest. Interest Payment Dates: Semi-annually on the 2 nd day of each April and October, commencing October 2, 2026, and at stated maturity or earlier redemption.* Interest Period: With respect to an interest payment date, the period from, and including, the immediately preceding interest payment date (or, in the case of the first interest period, the issue date) to, but excluding, that interest payment date. Interest Rate: 5.05% per annum. See "Description of Notes—Interest and Principal Payments" and "—Fixed Rate Notes" in the prospectus supplement for a discussion of the manner in which interest on the notes will be calculated, accrued and paid. Optional Redemption: The notes are redeemable by Wells Fargo, in whole but not in part, on the optional redemption dates, at 100% of their principal amount plus accrued and unpaid interest to, but excluding, the redemption date. Any redemption may be subject to prior regulatory approval. Wells Fargo will give notice to the holders of the notes at least 5 days and not more than 30 days prior to the date fixed for redemption in the manner described in the accompanying prospectus supplement under "Description of Notes—Redemption and Repayment." Optional Redemption Dates: Semi-annually on the 2 nd day of each April and October, commencing October 2, 2027 and ending October 2, 2032*. Listing: The notes will not be listed on any securities exchange or automated quotation system. Denominations: $1,000 and any integral multiples of $1,000 CUSIP Number: 95001DPH7 * To the extent that we make any change to the expected pricing date or expected issue date, the interest payment dates, the optional redemption dates and stated maturity date may also be changed in our discretion to ensure that the term of the notes remains the same. Investing in the notes involves risks not associated with an investment in conventional debt securities. See "Selected Risk Considerations" on page PRS-3 herein and "Risk Factors" beginning on page S-5 of the accompanying prospectus supplement. The notes are unsecured obligations of Wells Fargo, and all payments on the notes are subject to the credit risk of Wells Fargo. If Wells Fargo defaults on its obligations, you could lose some or all of your investm

View Full Filing

View this 424B2 filing on SEC EDGAR